Petropuli holds a 50% participating interest in the Morichito Block located in the Llanos Basin, Colombia.
The transaction, which is scheduled to close this month, does not include Petropuli’s 25% participating interest in Block SSJN-5 in the Middle Magdelena Basin, Colombia.
Petro Vista said the sale of Petropuli is the first step in its business plan to rationalize its Colombian oil and gas interests to focus on the development of its Tartaruga asset in Brazil.
Closing of the transaction is subject to all necessary regulatory approvals and approval of the consortium members to the change of control of Petropuli.
